The Global Entrepreneurship Monitor Report for 2005 has just been released by Babson University, and it has some interesting findings:
- Entrepreneurs in middle income countries are beginning to catch-up to their counterparts in richer economies by tapping into technologies unavailable to them just a year ago
- Entrepreneurs with 'innovative' businesses drive higher growth rates of GDP per capita
- Middle income countries tend to start more businesses than high income countries
These results show the dynamic nature of global economic growth in the new entrepreneurial economic era we are entering into. Entrepreneurship seems to be the key to finally spreading prosperity around the globe. Let's hope that policy makers in these countries take heed to previous findings showing that reducing regulation and simplifying taxes are key steps in fostering this grassroots economic development.
